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I am acting as power-of-attorney for my aunt, who currently resides in a nursing home. She is both hard-of-hearing and in the early stages of dementia, so she is unable to transact business for herself, especially by phone.

Recently, I discovered that on 6/11/13, FastLoan4Me.com was allowed to take an unauthorized bank draft for $30 on her bank account. I have spoken to a representative from the branch of her bank (IBC) that is local to me, and was told that the bank manager of her bank in her hometown authorized both the draft and a subsequent $35 stop payment fee. The manager noted on the account that she spoke on the phone with my aunt and received authorization for the charges. Both my aunt and the nursing home staff report that there was no phone call from the bank manager within the last few weeks.

In addition, there is documentation on file with the bank that requires WRITTEN authorization from either my aunt or myself as her power-of-attorney for any transactions on her account. I will be contacting the branch manager involved on Monday in an attempt to resolve this matter. I will also be filing a police report for fraud against FastLoan4me.com and a complaint with the attorney general for my state.

A Google search revealed numerous complaints against FastLoan4Me.com for identical unauthorized bank drafts for $30, so that is apparently their usual business model.

It floors me that they are continuing to get away with such fraud routinely. I am disgusted and saddened at the thought of the numerous elderly persons this company has most likely defrauded, and hope to be able to put a stop to these practices.

Monetary Loss: $30.

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